Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Fed Unveils Stablecoin Rules Under GENIUS Act 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
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U.S. stock futures edged lower on Thursday evening as renewed pressure on technology and artificial intelligence stocks overshadowed optimism surrounding a more accommodative Federal Reserve. The pullback was driven largely by a sharp decline in Broadcom shares, which fell in after-hours trading despite posting strong quarterly earnings, raising fresh concerns about the sustainability of the AI-led rally.
Broadcom (NASDAQ: AVGO) dropped as much as 5% after the chipmaker warned that its higher-margin, non-AI businesses could see muted performance in the current quarter. Investors were also unsettled by the company’s comments that a major data center deal linked to OpenAI is unlikely to generate meaningful returns until at least 2027. While Broadcom exceeded expectations for fiscal fourth-quarter earnings and issued an above-consensus revenue forecast, the cautious outlook was enough to trigger profit-taking after the stock’s roughly 75% surge so far in 2025. The company did highlight a sizable AI-related order backlog of $73 billion over the next 18 months, but concerns lingered about customer concentration and the possibility of major clients developing in-house AI chips.
Weakness in Broadcom followed a steep selloff in Oracle (NYSE: ORCL), which plunged more than 10% during Thursday’s regular session. Although Oracle delivered solid earnings, investor skepticism over its exposure to OpenAI and the reliability of its future AI-driven cloud orders weighed heavily on sentiment, dragging down the broader tech sector.
By 19:29 ET, S&P 500 Futures slipped nearly 0.1% to 6,903.75 points, Nasdaq 100 Futures fell 0.2% to 25,671.25 points, and Dow Jones Futures bucked the trend, rising 0.1% to 48,799.0 points. Earlier in the day, Wall Street closed mostly higher, with the S&P 500 and Dow Jones Industrial Average reaching record highs, supported by gains in non-tech stocks.
Investor confidence was bolstered by the Federal Reserve’s decision to cut interest rates by 25 basis points and signal a less hawkish policy stance. Fed Chair Jerome Powell also announced an immediate resumption of asset purchases, with the central bank set to buy $40 billion in Treasury bills per month. The move is expected to inject additional liquidity into financial markets, potentially supporting risk assets in the months ahead, even as near-term volatility persists in the tech and AI sectors.
